WestSpiel acquired by Gauselmann in 141.8-million-euro deal
The buyout which cost Gauselmann Group a total of 141.8 million euros (~168 million US dollars), will see Gauselmann acquire NRW.Bank’s shares at Westdeutsche Spielbanken (WestSpiel).
The agreement, which took place as a result of Gauselmann winning the privatization tender started by Nordrhein-Westfalen’s Ministry of the Interior, will also see Gauselmann Group gain rights to monopolize the gambling in Nordrhein-Westfalen throughout a period of 15 years, as well as be allowed to launch two additional casinos, adding to the acquired 4.
Gauselmann Group’s founder and president – Paul Gauselmann, stated about the acquisition:
“We are excited for new patrons to join our team here at North Rhine-Westphalia, as we unite our strengths to further develop the casinos in this region.”
The deal was first signed back in July, when Gauselmann Group’s won the privatization tender, however, it wasn’t finalized until two days ago (September 1st), due to the approval of the authorities, as well as the preparations for the integration, related to not only the organizational part, but as well as the introduction between the patrons.